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Re: Insurance nightmare
My experience is different. When I was looking to buy my Chipmunk, which
is Experimental/Exhibition, Avemco gave me a quote right away. The plane was
insured with them by the previous owner, but I had only 15 hrs tailwheel at
the time. I'm paying $628 for 1 million liability. The independent agents
and AOPA were unable to obtain any quotes.
By the same token, I dropped my Builder's policy on the Velocity because
they raised the premium 15% after the first year. I hadn't made any claim
and I thought that was excessive.
When shopping with the independents choose your first contact carefully.
One agent told me that the market is first come first serve. Whoever enters
the first request has a lock on the market until it's accepted or rejected.
I had thought there might be some competitive bidding, but not so. Avemco
sells direct and has no impact on the market so use them to get a competing
I don't have any answers, but don't count Avemco out. -Bill
From: Lisa Boesen & Chuck Caldarale <firstname.lastname@example.org>
To: Andrew L. Judge <AJudge1@compuserve.com>; reflector3
Date: Thursday, July 02, 1998 8:26 PM
Subject: RE: Insurance nightmare
>Avemco seems to be working hard to get out of the insurance business. It's
>not just homebuilts they've raised the rates on. A friend of mine with a
>couple thousand hours and CFII rating just gave up on Avemco after they
>tried to raise her Twin Commanche rates by about 40% (and they were high to
>begin with). She used an insurance broker and found a reputable company for
>about half of what Avemco wanted. At this point, Avemco would be the last
>place I'd look for insurance.
> - Chuck